StockNews.com Downgrades Verastem (NASDAQ:VSTM) to Sell

StockNews.com lowered shares of Verastem (NASDAQ:VSTM) from a hold rating to a sell rating in a research report sent to investors on Monday morning.

Other analysts have also recently issued reports about the stock. Mizuho reaffirmed a buy rating and issued a $36.00 price target on shares of Verastem in a report on Tuesday, August 29th. B. Riley began coverage on shares of Verastem in a report on Wednesday, September 27th. They issued a buy rating and a $21.00 price target on the stock. Finally, Royal Bank of Canada cut their price target on shares of Verastem from $34.00 to $32.00 and set an outperform rating on the stock in a report on Wednesday, August 9th. One analyst has rated the stock with a sell rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $30.17.

Verastem Trading Down 1.5 %

VSTM opened at $6.05 on Monday. The stock has a market capitalization of $152.87 million, a PE ratio of -1.50 and a beta of 0.56. The firm’s fifty day moving average price is $7.80 and its 200 day moving average price is $8.50. The company has a debt-to-equity ratio of 0.48, a current ratio of 7.33 and a quick ratio of 7.33. Verastem has a 12-month low of $3.87 and a 12-month high of $15.18.

Institutional Trading of Verastem

A number of institutional investors and hedge funds have recently modified their holdings of VSTM. JPMorgan Chase & Co. raised its holdings in shares of Verastem by 23.8% during the first quarter. JPMorgan Chase & Co. now owns 103,057 shares of the biopharmaceutical company’s stock worth $145,000 after purchasing an additional 19,837 shares during the period. Synovus Financial Corp grew its position in shares of Verastem by 10.2% during the first quarter. Synovus Financial Corp now owns 108,000 shares of the biopharmaceutical company’s stock worth $152,000 after acquiring an additional 10,000 shares during the last quarter. Ergoteles LLC grew its position in shares of Verastem by 126.3% during the first quarter. Ergoteles LLC now owns 203,425 shares of the biopharmaceutical company’s stock worth $287,000 after acquiring an additional 113,527 shares during the last quarter. XTX Topco Ltd bought a new position in shares of Verastem during the first quarter worth about $37,000. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Verastem by 2.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 460,493 shares of the biopharmaceutical company’s stock worth $650,000 after acquiring an additional 11,090 shares during the last quarter. 75.25% of the stock is owned by institutional investors and hedge funds.

Verastem Company Profile

Verastem, Inc, a development-stage biopharmaceutical company, focuses on developing and commercializing drugs for the treatment of cancer. Its product in development includes VS-6766, a rapidly accelerated fibrosarcoma (RAF)/mitogen-activated protein kinase (MEK) clamp that blocks MEK kinase activity and the ability of RAF to phosphorylate MEK.